Abstract
Introduction
This report provides a comprehensive analysis of the UK Critical Illness &
Income Protection insurance markets providing market sizing, distribution and
competitor information. The report also explores how providers can revive
sales in these markets and provides the reader with forecasts of market size
up to 2012.
Scope
*Recommendations on how providers can revive growth in these sectors
*Information on market size and forecasts of market size up to 2012
*Competitor premium income and market share data
Highlights
Datamonitor would advocate providers introducing "lite" versions of the
traditional CII product along the lines of Virgin' s Cancer Cover. For instance
providers could introduce separate policies aimed at the three most common
types of CII claim: cancer, heart attack and strokes.
Premiums for CII written as a rider to term insurance have declined
significantly since 2003. In 2003 premiums totaled £378m however this figure
dropped off markedly in 2004 and 2005 and by 2007 premiums totaled £218m,
representing a 42.3% fall. Despite an increase in 2006 new business premiums
declined by a further 9.9% in 2007
Reasons to Purchase
*Feed into your business planning activity
*Understand market size and growth
*Benchmark your position against the position of other players in the
market
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